Negotiations

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February 17, 2020 by Jenny Wilson Physicians go through a tough phase where they have to choose between opting independent practice and joining hospitals or other healthcare organizations. This decision proves to be a turning point in their medical career, so they have to weigh the pros and cons of

I had a question regarding the tail coverage. I switched jobs in July 2017. Due to being a regular visitor of WCI blogs and podcasts, I was aware at that point to inquire about whether my policy was claims based vs occurrence based (I should have known better at the time of signing the contract). It turns out that my contract mentioned that the policy could be either occurrence based or claims based, however, if the employer chooses to have claims based policy in place, the employer will be responsible for arranging the tail coverage for the employee when he leaves. So that all sounded good. At the time of leaving the job, I reached out to the person in charge and requested proof of paid tail coverage for my claims based policy. Below is the response I got. “The medical malpractice coverage afforded to Dr **** (myself) is on a claims-made basis, and the limits were shared amongst all employees, employed physicians, and all entities of **** (the healthcare system I was employed by). As this is a “sh

Whether it’s a change in employment, a move to a new state, or the sale of your practice, almost every doctor will someday need to evaluate malpractice insurance options.  When these times are upon you, you may feel overwhelmed with making decisions in a time crunch.  You still have patients to care for, a life outside of medicine, and now you need to solve your malpractice insurance problem.  Fortunately, you are not alone.  Read on...

Doctors frequently call us after a crisis has hit. Our wager is that if you spend even a modest amount of time with us today, you’ll walk away with the wisdom that will guard you against the worst med mal outcomes.

View tips and best practices for physicians on negotiating employment contracts.

Join your Texas Medical Association colleagues for a virtual discussion on contract negotiation, scheduled for 6 to 7 pm (CT) Thursday, Dec. 10.

In today’s guest post you’re going to learn all about how to not get trapped in a bad contract. Make sure you’re in the contact that suits your needs!

Are you a medical professional making your next career move? We're sharing the key contract topics every physician needs to review.

Learn the five mistakes that physicians can quite easily avoid during a physician contract negotiation.

Introduction Contract negotiation is a high-stakes interaction, yet most physicians are never taught negotiation skills. Studies suggest that women, as compared with men, display a lower propensity...

Tactics and skills for physicians.

Basic concepts, processes that can lead to successful negotiations

Little to no time is devoted to helping resident physicians understand the complexity and tactics of negotiating their first job. Having sat on both sides of the table, the following are a few thoughts from 20 plus years of interesting career discussions.

With the right skillset, anything can be negotiated – rank, salary, schedule and more. This course demonstrates the steps that make up all negotiations and it shows physician leaders how to leverage that structure to create the career and lifestyle they want. The course kicks off with a broad, four-part negotiation structure – which can be applied to any situation – and then branches out into the specifics of negotiating, like setting boundaries, walking away from a discussion and more. Lessons are delivered through a series of video lectures, downloadable resources and interactive moments that allow participants to practice with the skills and insights they develop throughout the course. Topics Include: The step-by-step structure to negotiate – anything. Analyze the three parameters that keep negotiators protected during a discussion. Understand exactly when to walk away from a negotiation. Develop strategies to create win/win situations for all parties. Now with Updated Mobile functionality: This course is now accessible on both Desktop and Mobile devices This product listing is for an individual course. We also offer the Fundamentals of Physician Leadership Series which includes a discount for purchasing the five courses, together. *This course is an updated version of our previous offering: Physician in Management: Negotiation.

How to Close the Deal on the Best Possible Offer for YouAs a physician, the employment market is generally in your favor - there are likely more physician jobs open, than there are physicians to fill them. However, when you find the one job that is the best fit for you, diplomacy is paramount to ensuring a smooth interview and negotiation process. Even though you are in demand, you still should be careful how you approach the contract negotiation process - how do you clarify questions, and request changes, without breaking down trust or killing the momentum?The national team of physician recruiters at The Medicus Firm provide several great ideas below, based upon their experiences working with hundreds of physicians and helping them to finalize an acceptable offer that meets their needs for their next career move.1. Know your worth. Research salary trends and market value for your role prior to negotiating. There is so much information widely available today, there's no reason to be uninformed about the salary range for your profession. "When you do research competitive salaries, be sure to factor in your level of experience, your role, medical specialty, educational background, and even geographic region. Salaries vary by geographic location, and, for physicians especially, salaries can vary widely from one region to the next, sometimes by several thousands of dollars within a 50-100 mile radius,” states Jeremy Geer, senior recruiting consultant..2. Avoid “going to the well” too often – “This is a very common mistake, when candidates make multiple requests for concessions throughout the negotiation stage of the process,” according to Steve Look, executive vice president of The Medicus Firm. His colleague, Craig Southerland, agrees: “I always advise physicians that they can negotiate back and forth no more than twice. First with the initial questions and requests, then once more with any follow-up concessions or requests. If a candidate tries to go back to the employer with additional requests any more than two times, he or she can easily end up negotiating themselves right out of the offer, and end up with nothing but disappointment.”3. Communicate clearly, and often. The biggest, most common mistake when negotiating salary, is when candidates fail to effectively and pointedly communicate with potential employers. "Without clear, concise communication, the process often gets bogged down and can create frustration and lack of direction, which ultimately leads to negative outcomes,” states Jamie Thomas, executive vice president in the Atlanta office. “I have found that the best way to communicate salary expectations is to be honest about your expectations from the beginning, and throughout the process.  Once a candidate has interviewed and the negotiating process has begun, it is important for the candidate to have candid, open dialogue expressing their compensation needs, while expressing their true intent, should the client meet those needs. For example, don’t tell the hiring manager that you will accept the position if they offer X, and then, not accept the offer after the employer agrees to your request.”4. Be Aware of the Competition.  As a physician, it’s true that your skills and qualifications are in great demand, but that doesn’t necessarily mean that you are the only person in the interview mix. “Clinicians often mistakenly believe that they are the only person a potential employer is speaking to, interviewing, or making an offer to join their program. This is almost never the case. Hospitals almost always have multiple candidates they are considering for any open position. They will often go with the employee candidate who shows the most interest, is the most positive, and who builds and maintains momentum throughout the interview process, by keeping in constant contact with a potential employer, and keep them apprised of your situation,” advises Nolan Smith, recruiting principal in Dallas.  5. Timing is Everything. (Avoid Negotiating Salary Details too Soon in the Process.) Not only can this potentially turn off an employer and perhaps even make you seem greedy to your future employer, trying to negotiate salary before the interview prevents you from leveraging the value you bring to the employer as a reason to offer higher pay. Kaitlin Kremer, a recruiting consultant out of the Atlanta office, adds, “you have to make the employer ‘fall in love with you’ first, then you can make requests or negotiate for more money if appropriate."6. Keep the "Big Picture" and End Goal in Sight: Consider the offer as a whole, and try not to get bogged down in the minute details. Consider all aspects of the offer: Base salary, plus bonuses/incentive, plus benefits, and other perks. Several recruiters, including Brian Nichols, recruiting principal in Atlanta, said that they see many candidates get so intensely focused on negotiating base salary, that they fail to consider the bigger picture. Also, this makes the employer concerned that the candidate is not planning on working hard enough to meet productivity goals and earn bonus incentives. This especially applies to physicians or any clinicians with a compensation structure that includes productivity incentives.Each job search, interview process, and contract negotiation will include a variety of deciding factors, and involve a different, unique set of circumstances for the physician and his or her family, as well as for the employer. Your physician recruiter is motivated to help you get the best offer and the terms you need to accept, as each recruiter's goal is to bring the hospital (employer) and physician (future employee) together into a lasting, mutually beneficial agreement.More from The Medicus Firm:Search physician jobsRecruit physicians or advanced practice cliniciansWork at The Medicus Firm

You're done interviewing and have an offer on the table for a new physician job. Congratulations, but, your work isn't over. Physician contract negotiations can get very complex and set the table for your future.

Ophthalmologists can—and should—learn to master this vital skill.

As more physicians become employed, learning how to successfully negotiate an employment contract becomes a crucial skill to learn.

As a negotiator by trade, I am frequently asked for my best pointers on negotiation. I came up with what I call “Greg’s Golden Rules” and I use these as guiding principles for every negotiation I do. If you are interested in my advice or help with an upcoming contract negotiation, get in touch and […]

A comprehensive resource that will help you understand how to negotiate a physician contract, what to look for in a contract, and mistakes to avoid.

In an episode of the AMA’s “Making the Rounds” podcast, AMA senior attorney Wes Cleveland walks you through things to consider, and avoid, during the interview and negotiation processes.